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Argosy Minerals focuses on Rincon development to "buck the trend" of recent share price pressure

Argosy Minerals Limited (ASX:AGY) managing Director Jerko Zuvelo updates Proactive Investors on the lithium company's development work at its Rincon Lithium Project in Argentina, after a successful quarter in which the company signed a sales agreement with Mitsubishi for its pilot plant production. 
 
"We've been working with them for over 18 months, not just on this initial offtake arrangement but also looking at strategic investment [and] commercial-scale offtake as well," says Zuvela. 
 
He continues, "They add credibility to our business, to our production strategy of producing lithium carbonate ... we're always looking to secure good partnerships and further progress our business down the development pathway."
 
Zuvela says the recent share price trend is disappointing, but the company is working hard to buck that trend, boosted by a $9 million injection to fund Rincon development for the year ahead.

 

Quick facts: Argosy Minerals Ltd

Price: 0.053 AUD

ASX:AGY
Market: ASX
Market Cap: $54.03 m
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